Friday, January 8, 2021
SEC Issues Statement on Custody of Digital Asset Securities by Special Purpose Broker-Dealers
On December 23, 2020, the Securities and Exchange Commission issued a statement and request for comment relating to custody of digital asset securities by broker-dealers, including certain conditional, time-limited relief for such arrangements. The statement will become effective 60 days after its publication in the Federal Register.
Most significantly, the SEC’s statement indicates that, for a five-year period, a broker-dealer will not be subject to an SEC enforcement action on the basis that the broker-dealer has deemed itself to have obtained and maintained physical possession or control of customer fully paid and excess margin digital asset securities for the purposes of paragraph (b)(1) of SEC Rule 15c3-3 (the Customer Protection Rule), which requires such possession or control,
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Traders Magazine
Dec. 28, 2020
Jay Clayton ended his tenure as Chairman of the Securities and Exchange Commission last week. I greatly enjoyed working with Chairman Clayton over the past three years. Under his leadership, the agency has navigated difficult and novel challenges, including the pandemic and associated shutdowns and market volatility. Chairman Clayton’s steady hand, wisdom, and optimism inspired the rest of us at the agency to remain focused and committed to protecting American investors and the U.S. capital markets. I particularly appreciated Chairman Clayton’s habit of setting an agenda publicly, following it, and recognizing the staff whose hard work made it all possible.
Statement On The Departure Of SEC Chairman Jay Clayton: Commissioner Hester M. Peirce, Dec. 28, 2020 Date
29/12/2020
Jay Clayton ended his tenure as Chairman of the Securities and Exchange Commission last week. I greatly enjoyed working with Chairman Clayton over the past three years. Under his leadership, the agency has navigated difficult and novel challenges, including the pandemic and associated shutdowns and market volatility. Chairman Clayton’s steady hand, wisdom, and optimism inspired the rest of us at the agency to remain focused and committed to protecting American investors and the U.S. capital markets. I particularly appreciated Chairman Clayton’s habit of setting an agenda publicly, following it, and recognizing the staff whose hard work made it all possible.
Today
Windy with a mix of clouds and sun. High 81F. Winds SSW at 20 to 30 mph. Winds could occasionally gust over 40 mph..
Tonight
A few clouds. Low around 60F. Winds S at 15 to 25 mph. Winds could occasionally gust over 40 mph. Updated: April 5, 2021 @ 2:36 pm